Credit Suisse Group has, reportedly, decided to exit the US equity retail market-making business by the end of the first quarter of 2015 after failing to gain enough scale.
The decision, which is a part of its ongoing review of investment banking business, will not affect the rest of its retail execution services operations, reported Reuters.
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Credit Suisse has not made it to the ranks of the top market-making firms, which include KCG Holdings, Citadel Securities, UBS Group, Citigroup, Susquehanna International Group, and Two Sigma Securities, since it entered the business in 2011.
The firm will redeploy its five market-making employees, while the bank’s agency-led unit will act as a middleman for clients, taking their orders and sending them to firms that make markets, the publication said.
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